SHANDONG XIANGGUANG GROUP CO., LTD: Digitizing Trade Finance with eBL Solutions
"Learn about SHANDONG XIANGGUANG GROUP CO., LTD, a leading nonferrous metals corporation, specializing in mining, refining, and digital trade finance solutions. Explore their eBL history, benefits, and workflow for efficient international settlement."
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Presentation Transcript
SHANDONG XIANGGUANG GROUP CO.,LTD Company Overview eBL History eBL Work Flow eBL Benefits Summary
SHANDONG XIANGGUANG GROUP CO.,LTD Company Overview
SHANDONG XIANGGUANG GROUP CO.,LTD Company Overview Established in 2007, Shandong Xiangguan Group is a modern, large- scale nonferrous metals corporation, specializing in areas including int l mining development, copper refining, copper processing, rare metals processing, and copper recycling. Our refining facilities are state-of-the-art, showing our dedication to safety, environmental protection, and energy saving.
SHANDONG XIANGGUANG GROUP CO.,LTD eBL History Trade relies on the exchange of documents to enable settlement Traditionally, such processes were paper-based. With the development of eBLs (electronic bills of lading), companies are gradually moving away from paper-based processes to fully digital solutions
SHANDONG XIANGGUANG GROUP CO.,LTD eBL History In 2002, the ICC issued eUCP 1.0, a supplement to the already existing Uniform Customs and Practice for Documentary Credits (UCP500) Upon release of UCP600, its own supplement was named eUCP 1.1. It offered guidance regarding the use of digital documents in LC based transactions ePresentation offers corporates and banks a platform for carrying out the management of such paperless document transactions. UCP 600 eUCP Electronic Presentation Paper documents
SHANDONG XIANGGUANG GROUP CO.,LTD eBL History Shandong Xiangguang Group actively participated in development of digitized int l settlement. During April 2014, in cooperation with Bolero, ABC Liaocheng, ANZ, BHP, & Oldendorff, we implemented our first successful ePresentation, achieving full digitalization in our LC business. This was undoubtedly a breakthrough for China in regards to the digitization of trade finance.
SHANDONG XIANGGUANG GROUP CO.,LTD eBL Workflow 1. Back-to-Back LC Flow With bank support, the baby LC applicant issues an LC in accordance to eUCP, which offers concrete guidance for the implementation of ePresentation.
SHANDONG XIANGGUANG GROUP CO.,LTD eBL Workflow Settlement ePres docs Baby LC Issuing Bank ePres w/ eBL ePres w/ eBL Baby LC Beneficiary Advising Bank Baby LC Applicant ePres w/ eBL eBL Master LC Issuing Bank eBL Master LC Applicant Carrier Acceptance Release Cargo
SHANDONG XIANGGUANG GROUP CO.,LTD eBL Workflow 2. Baby LC Workflow Once the LC is received from the advising bank, the beneficiary will transmit the eDocs to the baby LC issuing bank through Bolero s ePresentation platform; Once the LC issuing bank receives all submitted electronic documents, it will review the documents and provide the results of the review in a timely manner; After the beneficiary has approved settlement and the issuing bank has carried out said settlement, the ePresentation will be sent on the the master LC issuing bank, which will be reflected in the record of holdership on the Bolero system s eBL title registry.
SHANDONG XIANGGUANG GROUP CO.,LTD eBL Workflow 3. Master LC Flow The master LC issuing bank receives the master LC, and then provides the results of its own document review in a timely manner; After the master LC applicant accepts, the master LC advising bank will release all eDocuments to the applicant, including the eBL; The master LC applicant will present the eBL to the carrier, who will then in turn release goods to the applicant.
SHANDONG XIANGGUANG GROUP CO.,LTD eBL Benefits Simplifies trade settlement flows, increasing efficiencies in the use of capital. Shortens time needed for document transferal Simplifies & standardizes document management Precludes loss of documents common in traditional trade transactions Precludes any inclusion of fraudulent documents Cuts costs
SHANDONG XIANGGUANG GROUP CO.,LTD Summary An eBL is a document format allowing for a higher degree of safety, standardization, and efficiency. For large, bulk traders, it successfully replaces traditional paper-based documents, and blazes a path for full digitalization in int l trade settlement. Standardized document digitalization will become the prevailing trend in int l trade settlement. ePresentation will also become the vehicle for carrying this trend out.
SHANDONG XIANGGUANG GROUP CO.,LTD Thank You
